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UPDATE: Deutsche Bank Upgrades Omeros

Deutsche Bank raises its rating on Omeros (NASDAQ: OMER) to Buy from Hold and raies its price target $5 to $11 following strong top-line data for the company's intraocular lens replacement surgery.

Deutsche Bank says, "Following the release of strong, topline Ph 3 OMS302 data for intraocular lens replacement surgery, we upgraded Omeros shares from HOLD to BUY early Tuesday morning as we see a reduction in the overall risk profile for the co's PharmacoSurgery platform (OMS103HP, OMS302, OMS201) – key valuation driver. Moreover, we have not ascribed any value to OMER's early stage biotech pipeline, the GPCR program, as well as its preclinical CNS product candidates – which could potentially yield lucrative collaborations."